MD_DA410

     Butter - Eastern U.S.

     Report 13 - Released on March 28, 2019

     **UPDATED Bulk Basis Pricing

     In the East, at most key butter facilities, cream is readily available as spot cream
     provides added support for production goals. In general, manufacturers are accomplishing
     their Q1 butter output objectives as inventories expand to fulfill imminent holiday seasonal
     demand in the region. Meanwhile, butter stocks in all warehouses note a 9 percent decline,
     compared to the previous year at this time. Sources see print sales as improving, with
     increases in retail store ads. As trades pick up, the market has a mixed feel, a typical
     norm for this time of year. Spot pricing for bulk butter continues at 5 to 8 cents over the
     market of the CME Group, based on various time frames and averages used. The Tuesday CME
     Group butter price closed $2.2750, declining $0.0050 from Tuesday the previous week.

     National Retail Report Dairy ± 1# Butter Summary

     Advertised Prices at Major Retail Supermarket Outlets ending
     period of 3/22/2019 to 3/28/2019

                         Weighted Average Price
     National      This Period  Last Week  Last Year
      Organic        $5.29        $5.29       n.a.
      Conventional   $3.57        $3.12      $2.90
                           Prices This Period
     Regional (Conventional)
                    Wtd. Ave.      Low        High
      Northeast      $3.56        $2.79      $3.99
      Southeast      $3.96        $3.50      $3.99
     Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter

     Bulk Basis Pricing  - 80% Butterfat $/LB:              +0.0500 - +0.0800


     Information for the period March 25 - 29, 2019, issued weekly

     Secondary Sourced Information:

     Cold Storage ± Butter Summary
     Released March 22, 2019, by the National Agricultural Statistics Service (NASS),
     Agricultural Statistics Board, United States Department of Agriculture (USDA).

                                                                       2/28/19
                    Stocks in all Warehouses (1,000 pounds)    as a percent of
                            2/28/18     1/31/19     2/28/19     2/28/18    1/31/19
     Butter Stocks          265,756     211,168     242,513          91        115

     January Records           Record High             Record Low
                         (1000 pounds)     Year  (1000 pounds)     Year
     Butter                 624,867        1992      7,323         1948

     Published by:
     Dairy Market News - Madison, WI
     DANIEL JOHNSON, 608-422-8605
     Email: daniel.johnson@ams.usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov/